Fiat Auto SpA and Iranian manufacturer Pars Industrial Development Foundation Co. (PIDF) reach a pact to form a joint venture to manufacture Fiat vehicles in Iran. The agreement calls for PIDF to invest €200 million ($261 million) to launch production of the Fiat Palio, Siena, Palio Weekend Adventure and Strada pickup, as well as a multi-purpose vehicle version of the truck at PIDF’s industrial facility in the country. Production is expected to begin in the year’s second half. Output is ...
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